Thayer Ventures Acquisition, a blank check company formed by Thayer Ventures targeting the travel and transportation industries, filed on Thursday with the SEC to raise up to $175 million in an initial public offering.
The Valencia, CA-based company plans to raise $175 million by offering 17.5 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable $11.50. At the proposed deal size, Thayer Ventures Acquisition would command a market value of $219 million.
The company is led by Co-CEOs Mark Farrell and Christopher Hemmeter, co-founders and Managing Directors of Thayer Ventures. Prior to Thayer Ventures, Farrell served in San Francisco politics, most recently as Mayor in 2018, and Hemmeter was a serial entrepreneur, most recently founding iCare Marketing which was sold to Sysco Foodservice. Thayer Ventures Acquisition plans to concentrate on sourcing business combination opportunities within travel and transportation technology.
Thayer Ventures Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol TVACU. The company filed confidentially on August 21, 2020. Stifel and Oppenheimer & Co. are the joint bookrunners on the deal.
